AllAnalyst Report
logoMorningstarSeptember 23, 2021

Darden Restaurants, Inc.: We Like Darden's Competitive Position, Even as Casual Dining Pressure Persists

Symbols
DRI
Sector(s)
Consumer Cyclical
Rating
Current Price
$149.15
Fair Value
Economic Moat
Stewardship
Summary

Darden Restaurants is the largest restaurant operator in the U.S. casual and fine dining markets, with consolidated revenue of $7.2 billion in fiscal 2021 resulting in 3.8% market share (per Euromonitor data and our calculations). The company maintains a portfolio of eight restaurant chains: Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Eddie V’s, and Bahama Breeze. Darden generates revenue almost exclusively from company-owned restaurants, though a network of 64 franchised restaurants and consumer-packaged goods sales through the traditional grocery channel contribute modestly. As of Aug. 31, the company owned 1,838 restaurants in the U.S.

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